2013-08-28milesfranklin.com

``... investors are now wondering "Where is the gold?" and they don't like the answers they are getting.  They are "voting" with their financial transactions.  Investors are going to "cash and carry" on their own.  They are buying physical metal and asking for delivery, they are also either buying less or outright selling "paper" gold products.  This is creating a "two tier" market where the price of REAL gold is higher than "paper" which represents gold.  THIS in essence is backwardation in itself and "premiums" paid for physical metal was an early warning''



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